FDI inflows jump 47.8% to $16.17 bn in Q1

Foreign direct investment in India jumped 47.8 per cent to $16.17 billion in April-June this fiscal on healthy inflows in services, computer, telecom and pharma sectors, according to government data. FDI inflows were at $10.94 billion in April-June 2023-24.

The data showed that overseas inflows in May rose to $5.85 billion and in June to $5.41 billion from $2.67 billion and $3.16 billion, respectively, in the year-ago period.

In April, FDI inflows were down marginally at $4.91 billion against $5.1 billion in April 2023.

Total FDI, which includes equity inflows, reinvested earnings and other capital, grew by 28 per cent to $22.49 billion during the first quarter of this fiscal from $17.56 billion in April-June 2023-24, the Department for Promotion of Industry and Internal Trade (DPIIT) data showed.

During the period, FDI equity inflows rose from major countries, including Mauritius, Singapore, the US, the Netherlands, the UAE, Cayman Islands and Cyprus. However, inflows declined from Japan, the UK, and Germany.

Sectorally, inflows rose in services, computer software and hardware, telecommunication, pharma and chemicals. The data also showed that Maharashtra received the highest inflow of $8.48 billion during the first quarter of this last fiscal. It was followed by Karnataka ($2.28 billion), Telangana ($1.08 billion) and Gujarat ($1.02 billion).

FDI inflows declined in Delhi and Rajasthan compared to the year-ago period.